# Opec+ set to review compliance amid heightened oil market fragility | The National

> OPEC+ was set to meet to review compliance with production quotas amid fragile oil markets. The IEA and OPEC both cut their 2020 demand forecasts, with OPEC seeing demand fall by 9.5 million barrels per day. Analysts said slow price recovery was testing the group's unity.

- Date: 2020-09-16 · published 2020-09-16T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/51059-opec-set-to-review-compliance-amid-heightened-oil-market-fragility-the-national
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker demand forecasts point to continued pressure on crude, which lowers energy and fuel costs for feed logistics. Any move to restore supply would add further downward pressure.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -6.3% | -11.5% |
| WTI | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +2.8% | +16.0% |
| WTI | 2022-08-03 | [Opec+ agrees to boost September crude supply by 100,000 bpd amid shifting market dynamics \| The National](https://feedsoft.ai/events/39951-opec-agrees-to-boost-september-crude-supply-by-100-000-bpd-amid-shifting-market.md) | -4.1% | -4.5% |
| WTI | 2018-03-09 | [Opec+ reaffirms commitment to market stability](https://feedsoft.ai/events/65931-opec-reaffirms-commitment-to-market-stability.md) | +1.7% | +3.2% |
| WTI | 2017-06-02 | [Oil market to OPEC: Show me the data](https://feedsoft.ai/events/70393-oil-market-to-opec-show-me-the-data.md) | -5.5% | -7.1% |
| BRENT | 2022-06-30 | [Opec+ sticks to output plans for August amid tight supply and price volatility  \| The National](https://feedsoft.ai/events/40839-opec-sticks-to-output-plans-for-august-amid-tight-supply-and-price-volatility.md) | -11.8% | -8.8% |
| BRENT | 2022-01-04 | [OPEC+ Agrees to Revive More Oil Supplies as Market Looks Tighter](https://feedsoft.ai/events/43060-opec-agrees-to-revive-more-oil-supplies-as-market-looks-tighter.md) | +3.3% | +16.7% |
| BRENT | 2022-08-03 | [Opec+ agrees to boost September crude supply by 100,000 bpd amid shifting market dynamics \| The National](https://feedsoft.ai/events/39951-opec-agrees-to-boost-september-crude-supply-by-100-000-bpd-amid-shifting-market.md) | -3.4% | -4.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/opec-set-to-review-compliance-amid-heightened-oil-market-fragility-1.1078741

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.